Consumer Minute: Good news for your 401K, not so good news at the gas pump.

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by Sandra Parker, 13News Now

WVEC.com

Posted on November 15, 2013 at 11:18 AM

Updated Friday, Nov 15 at 12:00 PM

The lines started forming Thursday afternoon as anxious gamers wanted to be among the first to get their hands on the new PlayStation 4.  The new console went on sale at midnight for $399.  Sony says it had more than one million pre-orders for it.  By the way, the competition, Microsoft's Xbox One, is set for release next week.

Both the Dow and the S &P 500 are starting Friday at all-time highs. That Wall Street rally is good news for your 401K.  It seems retirement plans are also at record highs, according to Fidelity.  The average balance in those plans is now more than $223,000.  That means workers who have contributed consistently during the last decade have seen a 20-percent gain.

After hitting their lowest level in three years, it seems the decline we had been seeing at the gas pump may be bottoming out.  Gas prices are not expected to get any cheaper.  That means the national average for gas will not likely dip below $3 a gallon.

Want to take a trip to one of the most romantic places in the world without leaving the comfort of your own home?  Google street view is making it possible.  Now you can log on and take a gondola ride through the canals of Venice, Italy.

 

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